New growth areas in French property

By Alison Steed

Building land and houses in towns and villages are the areas with the most potential for growth in value if you are looking to buy in France, according to estate agent Leggett Immobilier.

Trevor Leggett, an executive director at Leggett Immobilier, said: "2008 is definitely the time to be looking at buying land for building your own property.

"We know that the 'carte communale' - the regulation whereby communes in France set the land planning for town and village expansion areas - has now been proposed for 80 per cent of the communes in France.

"Once these proposals are accepted they cannot be modified for 10 years. "

This means that as land disappears, what remains will be priced at a premium.

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Mr Leggett said: "Good large plots of land are still available for £15,000 - a bargain - and building a small house costs only €100,000 - 120,000. Or you can buy the land and just hold onto it until you are ready to start your building project."

And the best bargains when it comes to houses are now in the heart of French towns, said Mr Leggett, "Sometimes these are houses without gardens for as little as €25,000 or beautiful maison de maitres and presbyteries to renovate for €100,000 to €150,000.

"Once renovated, you may have to 'sit' on your property for a little longer for the rest of the market to catch up, but town houses offer excellent, spacious accommodation and can still provide the quieter, relaxed lifestyle people are looking for at half the price of a comparable property down a quiet lane in the countryside."